Over the past five years, outsourcing has enjoyed growing acceptance within the business community. During this period, year-to-year outsourcing growth has consistently exceeded 20 percent for companies with over £40 million in revenue, manufacturers being the most likely firms to embrace outsourcing.
In addition, the outsourcing of financial services is seeing faster growth than any other type of outsourcing. Receivables outsourcing is an important component of financial services outsourcing and brings with it a long history. The use of third-party collection agencies has been a widely accepted practice for well over a century.
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